| Section 2(14) |
Munijhar v. Income-tax Officer |
Agricultural land situated beyond 8 km from municipal limits of Greater Noida is not a capital asset; profit on sale is exempt. |
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Income-tax Act, 1961 |
| Section 2(24) |
DCIT v. ACC Ltd. |
Excise-duty exemption granted under an industrial incentive scheme for capital investment/expansion constitutes a non-taxable capital receipt. |
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Income-tax Act, 1961 |
| Section 2(24) |
DCIT v. ACC Ltd. |
Royalty refund under Package Scheme of Incentives, 2007 is a capital receipt; quantification linked to royalty paid does not alter its character. |
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Income-tax Act, 1961 |
| Section 2(24) |
DCIT v. ACC Ltd. |
Sales-tax incentives under State Industrial Policies for encouraging capital investment constitute capital receipts, even if linked to sales tax/VAT paid. |
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Income-tax Act, 1961 |
| Section 10A |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Remitted to AO to verify whether 51 STPI/Customs software development centres under 24 licenses constitute separate eligible undertakings. |
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Income-tax Act, 1961 |
| Section 10A |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Income from FDs, mutual funds, and treasury operations from surplus business funds constitutes eligible business profits under Sec 10A/10AA/10B. |
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Income-tax Act, 1961 |
| Section 10A |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Foreign currency expenses excluded from export turnover must also be excluded from total turnover when computing Sec 10A deduction. |
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Income-tax Act, 1961 |
| Section 12AB |
Vocational Education Foundation v. Commissioner of Income-tax (Exemption) |
Cancellation of Sec 12AB registration unjustified where turnkey staff housing project was genuine and trust only retained land cost/statutory dues. |
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Income-tax Act, 1961 |
| Section 14A |
DCIT v. ACC Ltd. |
Only investments yielding exempt income can be considered under Rule 8D(2)(iii); Sec 14A disallowance cannot be added while computing MAT under Sec 115JB. |
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Income-tax Act, 1961 |
| Section 14A |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
No interest disallowance under Rule 8D(2)(ii) when interest-free funds exceed investments; admin disallowance limited to 0.5% of exempt-yielding investments. |
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Income-tax Act, 1961 |
| Section 32 |
DCIT v. ACC Ltd. |
Balance 50% additional depreciation for plant and machinery put to use for less than 180 days in the preceding year is allowable in the succeeding AY. |
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Income-tax Act, 1961 |
| Section 32AC |
DCIT v. ACC Ltd. |
Deduction cannot be denied merely because certain components of the newly installed and capitalised plant formed part of opening CWIP. |
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Income-tax Act, 1961 |
| Section 36(1)(vii) |
DCIT v. ACC Ltd. |
Bad debts written off are allowable once conditions under Sec 36(2) are satisfied and corresponding revenue was offered to tax in earlier years. |
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Income-tax Act, 1961 |
| Section 37(1) |
DCIT v. ACC Ltd. |
Pre-operative expenses incurred for expansion/modernisation or new units in the same line of business are allowable as revenue expenditure. |
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Income-tax Act, 1961 |
| Section 37(1) |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Off-the-shelf software licence fees are revenue in nature, whereas customized/enduring software licences are capital expenditure eligible for depreciation. |
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Income-tax Act, 1961 |
| Section 37(1) |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Unrealised year-end MTM loss on forward contracts entered to hedge export receivables under mercantile accounting is an allowable revenue deduction. |
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Income-tax Act, 1961 |
| Section 37(1) |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Loss on premature cancellation of forex forward contracts hedging export receivables is an allowable business loss and not speculative under Sec 43(5). |
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Income-tax Act, 1961 |
| Section 37(1) |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
ESOP and enhanced ESOP expenses are allowable as revenue expenditure following consistent Tribunal rulings in the assessee’s own case. |
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Income-tax Act, 1961 |
| Section 40(a)(i) |
Cyberstar Infocom LLP v. Income-tax Officer |
Immunity under the retrospective second proviso to Sec 40(a)(i) applies where purchases were from an Indian branch/PE that met Sec 201(1) first proviso terms. |
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Income-tax Act, 1961 |
| Section 40(a)(ia) |
Unitech Acacia Projects (P.) Ltd. v. ACIT |
No disallowance under Sec 40(a)(ia) can be made where interest was capitalised to work-in-progress (WIP) and not debited to the P&L account. |
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Income-tax Act, 1961 |
| Section 41(1) |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Old outstanding trade liabilities cannot be taxed as remission or cessation under Sec 41(1) merely due to long pendency without factual verification. |
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Income-tax Act, 1961 |
| Section 43B(f) |
DCIT v. ACC Ltd. |
Actuarial provision created for leave encashment is not deductible; deduction under Sec 43B(f) is allowable strictly on an actual payment basis. |
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Income-tax Act, 1961 |
| Section 44AD |
Munijhar v. Income-tax Officer |
Presumptive business addition cannot be sustained solely on bank credits when substantiated as non-business receipts (land sale/loan refunds). |
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Income-tax Act, 1961 |
| Section 68 |
Hiramoti Texchem (P.) Ltd. v. ITO |
Sec 148 notice quashed as the alleged unexplained credit was a genuine opening balance mischaracterised by the AO as a fresh deposit. |
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Income-tax Act, 1961 |
| Section 68 |
Hiramoti Texchem (P.) Ltd. v. Income-tax Officer |
Reopening based solely on an Investigation Wing report without new tangible material is an invalid change of opinion; notice quashed. |
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Income-tax Act, 1961 |
| Section 68 |
Agora Microfinance India Ltd. v. Income-tax Officer |
Cash loan repayments in demonetised currency received by an NBFC and recorded in regular books cannot be treated as unexplained cash credit. |
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Income-tax Act, 1961 |
| Section 68 |
Agora Microfinance India Ltd. v. Income-tax Officer |
SBN receipts representing recovery of loan receivables and interest already accounted for cannot be taxed under Sec 68 to prevent double taxation. |
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Income-tax Act, 1961 |
| Section 69 |
Dharmeshkumar Parsottambhai Ukani v. ACIT, Central |
Assessment remanded to AO to re-examine capital gains where purchaser cheques bounced and the assessee initiated legal proceedings. |
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Income-tax Act, 1961 |
| Section 69 |
Deputy Commissioner of Income-tax v. Naresh Harkaram Choudhary |
On-money recorded in seized Excel sheets is assessable only for assessee-owned properties or where source is proved, not for identifiable third-party buyers. |
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Income-tax Act, 1961 |
| Section 69A |
Deputy Commissioner of Income-tax v. Naresh Harkaram Choudhary |
WhatsApp chats are admissible without a Sec 65B certificate; addition sustained partially where unexplained entries were not reconciled with turnover. |
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Income-tax Act, 1961 |
| Section 69A |
Munijhar v. Income-tax Officer |
Cash deposited during demonetisation by an assessee declaring income under Sec 44AD and backed by cash book records cannot be taxed under Sec 69A. |
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Income-tax Act, 1961 |
| Section 80-IA |
DCIT v. ACC Ltd. |
Acquisition of a running power plant undertaking does not attract Sec 80-IA(3) bar even if the previous owner did not claim deduction. |
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Income-tax Act, 1961 |
| Section 80-IA / 80-IC |
DCIT v. ACC Ltd. |
Common head office expenditure must be allocated on the basis of eligible unit spend; specific non-eligible expenses cannot be apportioned to eligible units. |
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Income-tax Act, 1961 |
| Section 80-IA |
DCIT v. ACC Ltd. |
Computing eligible profits net of CENVAT credit requires corresponding adjustments for non-eligible units to determine Sec 80-IA deduction. |
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Income-tax Act, 1961 |
| Section 80-IA(4) |
DCIT v. ACC Ltd. |
Captive railway system qualifies as an infrastructure facility under Sec 80-IA(4) even if used solely for internal transport of raw materials and goods. |
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Income-tax Act, 1961 |
| Section 90 |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Remitted to AO to verify and allow Foreign Tax Credit (FTC) on income eligible for deduction under Sec 10A/10AA based on additional evidence. |
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Income-tax Act, 1961 |
| Section 92B |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Corporate/performance guarantees given to overseas AEs are international transactions; TP adjustment rate restricted to 0.5% instead of bank-quote markups. |
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Income-tax Act, 1961 |
| Section 92C |
DCIT v. ACC Ltd. |
Internal CUP based on State Discom tariffs is the most reliable method for benchmarking captive transfer of electricity; TP addition deleted. |
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Income-tax Act, 1961 |
| Section 92C |
DCIT v. ACC Ltd. |
Where rendition of technical and business support services is proved, ALP cannot be determined arbitrarily by estimating man-hours without prescribed methods. |
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Income-tax Act, 1961 |
| Section 92C |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Foreign currency loans (GBP) must be benchmarked using currency-specific rates (LIBOR) rather than domestic PLR; interest charged exceeding LIBOR+400bps is at ALP. |
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Income-tax Act, 1961 |
| Section 92C |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Foreign AEs cannot be tested parties under TNMM due to economic/FAR dissimilarities; TPO cannot treat the entire retained AE revenue as a TP adjustment. |
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Income-tax Act, 1961 |
| Section 115JB |
DCIT v. ACC Ltd. |
Tax borne by the employer on non-monetary perquisites provided to employees represents staff cost and cannot be added back to MAT book profits. |
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Income-tax Act, 1961 |
| Section 115JB |
DCIT v. ACC Ltd. |
LTCG cannot be excluded from book profit computation under Sec 115JB, but benefit of indexed cost of acquisition must be provided. |
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Income-tax Act, 1961 |
| Section 115JB |
DCIT v. ACC Ltd. |
Provision for interest payable under the Income-tax Act falls within Explanation 2 to Sec 115JB and must be added back to book profits. |
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Income-tax Act, 1961 |
| Section 115JB |
DCIT v. ACC Ltd. |
Subsidies/incentives held as non-taxable capital receipts (sales-tax, excise, royalty refund) cannot be included in book profits under Sec 115JB. |
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Income-tax Act, 1961 |
| Section 115-O |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Dividend Distribution Tax (DDT) on dividends paid to non-resident shareholders is capped by the lower treaty rate under Article 10 of applicable DTAA. |
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Income-tax Act, 1961 |
| Section 144B |
Process Sensing Technologies PST (P.) Ltd. v. Assessment Unit |
Denial of statutory right to a personal hearing via video conferencing in faceless assessment vitiates the assessment order; order set aside. |
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Income-tax Act, 1961 |
| Section 194A |
Unitech Acacia Projects (P.) Ltd. v. ACIT |
Revenue challenge against non-deduction of TDS on interest paid to NOIDA held untenable as Sec 10(20A) provisions were not applicable. |
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Income-tax Act, 1961 |
| Section 194-I |
Unitech Acacia Projects (P.) Ltd. v. ACIT |
Lease rent paid to development authorities (NOIDA/GNOIDA/YEIDA) is subject to TDS; Sec 201(1A) interest limited up to deductee’s return filing date. |
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Income-tax Act, 1961 |
| Section 194-I |
Commissioner of Income-tax (TDS)-2 v. Sikka Infrastructure (P.) Ltd. |
No penal/adverse action for non-deduction on GNOIDA lease rent where payee authority explicitly insisted that it was exempt from TDS. |
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Income-tax Act, 1961 |
| Section 199 |
HCL Technologies Ltd. v. Deputy Commissioner of Income-tax, Central |
Claim for proportionate credit of TDS on deferred revenue under Rule 37BA remanded to AO for factual verification and allowance as per law. |
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Income-tax Act, 1961 |
